Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2016
Property Plant And Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5. PROPERTY AND EQUIPMENT

Property and equipment, recorded at cost, consisted of the following at:

 

 

 

March 31,

2016

 

 

December 31,

2015

 

Furniture and fixtures

 

$

215,911

 

 

$

211,411

 

Leasehold improvements

 

 

156,843

 

 

 

156,843

 

Automotive vehicles

 

 

94,087

 

 

 

94,087

 

Computer equipment

 

 

92,285

 

 

 

89,203

 

Office equipment

 

 

32,873

 

 

 

29,140

 

 

 

 

591,999

 

 

 

580,684

 

Less: accumulated depreciation

 

 

(313,987

)

 

 

(281,807

)

Property and equipment, net

 

$

278,012

 

 

$

298,877

 

 

Included in depreciation expense was $32,180 and $30,142 related to property and equipment for the three months ended March 31, 2016 and 2015, respectively.

Property and equipment includes $243,970 of leasehold improvements, furniture and fixtures under capital leases as of March 31, 2016. Accumulated depreciation of assets under capital leases totaled $118,552 as of March 31, 2016.